Toyota to limit smart keys to 1 per new vehicle sold, due to semiconductor shortage
A global semiconductor shortage has impacted car production
Biden says the price of gas was 'over five dollars' when he took office, data shows it was $2.39
Biden says the price of gas was 'over five dollars' when he took office, data shows it was $2.39.
In an effort to ration semiconductors, Toyota Motor Corp. reportedly announced Thursday that it would replace one of the two "smart" keys it delivers in Japan with a mechanical one.
"As the shortage of semiconductors continues, this is a provisional measure aimed at delivering cars to customers as quickly as possible," the company said in a statement.
"As for the second smart key, we plan to hand it over as soon as it is ready," Toyota added.
According to The Asahi Shimbun, the change will apply to 14 models of Toyota cars, as well as nine Lexus models.
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FILE PHOTO: Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. (REUTERS/Kim Kyung-Hoon/File Photo / Reuters Photos)
"Due to supply chain delays, Toyota will temporarily provide one smart key for certain vehicles produced in North America," Toyota said in a statement emailed to Fox Business Digital. "Our manufacturing, logistics and sales teams are working diligently to develop countermeasures to minimize impact to customers."
A global semiconductor shortage has caused a severe delay in car production and shipments.
Previously, the Japanese automaker warned its annual vehicle production was likely to come in below its initial annual target.
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A salesman holds the key fob of a Toyota Motor Corp. Corolla vehicle at the Brent Brown Toyota dealership in Orem, Utah, U.S., on Monday, April 6, 2020. The Asahi Shimbun reported that 14 models of Toyota cars would be impacted. (Photographer: George Frey/Bloomberg via Getty Images / Getty Images)
On Friday, Toyota said while overseas sales increased – mainly in Asia – during the first half of fiscal year 2023, globally sales fell below the previous year's levels, due to "the tight supply-demand balance for semiconductors and other factors."
"However, a rebound from the impact of parts supply shortages due to the spread of COVID-19 in Southeast Asia in the previous year resulted in a year-on-year increase in global production," it said.
In September, Toyota said both global sales and production exceeded the previous year's level.
FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. (REUTERS/Pierre Albouy/File Photo / Reuters Photos)
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"The situation remains difficult to predict due to semiconductor shortages and COVID-19. However, we will continue to carefully monitor the parts supply situation and minimize sudden decreases in production as much as possible while making every effort to deliver as many vehicles to our customers at the earliest date," it said.
The corporation will live stream its fiscal year 2023 second-quarter financial results in a Nov. 1 briefing.
Reuters contributed to this report.